Over-Allotment Notice

Safestore Holdings PLC
28 March 2007


            



Not for release or distribution or publication in whole or part, directly or
indirectly, in, or into, the United States, Canada, Japan or Australia.

                             SAFESTORE HOLDINGS PLC

                            ANNOUNCEMENT OF EXERCISE

                         OF OVER-ALLOTMENT ARRANGEMENTS


Safestore Holdings plc (the 'Company') announces that, in connection with the
initial public offering of the Company (the 'Offer'), Citigroup Global Markets
U.K. Equity Limited ('Citigroup') as stabilising manager, on behalf of itself
and Merrill Lynch International has today given notice to exercise the
over-allotment option in respect of 12,097,980 ordinary shares ('Ordinary
Shares') of the Company. None of the proceeds arising from the exercise of the
over-allotment option will be payable to the Company. Following the transfer of
Ordinary Shares pursuant to the over-allotment option:

   • 99,054,505 Ordinary Shares will be held in public hands representing a
    free float of approximately 52.9% of the issued share capital of the
    Company; and
   • funds managed or advised by Bridgepoint Capital Limited will own 35.1%
    of the Company's issued shares.

This announcement may not be distributed, directly or indirectly, in or into the
United States, Canada, Australia or Japan. This announcement does not constitute
or form part of an offer or invitation to sell or issue, or any solicitation of
an offer to buy or subscribe for, any securities referred to herein.

   • Any purchase of or application for securities of the Company pursuant to
    the Offer should only be made on the basis of the information contained in
    the formal prospectus published on 9 March 2007 in connection with the Offer
    (the 'Prospectus'). The Prospectus contains detailed information about the
    Company and its management, as well as financial statements and other
    financial data. Copies of the Prospectus are available from Safestore
    Holdings plc, Brittanic House, Stirling Way, Borehamwood WD6 2BT.

Citigroup Global Markets U.K. Equity Limited and Merrill Lynch International are
authorised and regulated by the Financial Services Authority, are acting for the
Company in connection with the Offer and for no one else and will not be
responsible to anyone other than the Company for providing the protections
afforded to their respective clients or for providing advice in relation to the
Offer, the contents of this announcement or any matters referred to herein.

The information contained herein is not for publication or distribution in the
United States of America. These materials do not contain or constitute an offer
of securities for sale in the United States. The securities in Safestore
Holdings plc have not been and will not be registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration under that Act or an available exemption from it. The
Company and the selling security holders do not intend to register the
securities or conduct a public offering in the United States.

The Offer and the distribution of this announcement and other information in
connection with the Offer in certain jurisdictions may be restricted by law and
persons into whose possession any document or other information referred to
herein comes should inform themselves about and observe any such restriction.
Any failure to comply with these restrictions may constitute a violation of the
securities laws of any such jurisdiction.

For Enquiries:

Citigroup Global Markets U.K. Equity Limited

Darrell Uden, [phone]







                      This information is provided by RNS
            The company news service from the London Stock Exchange